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Writer's pictureScott Mathias

Snapshot of the Global Alt. Protein Boom with Jobs, Economic and Environmental Gains

On the eve of this week's global Alt. Protein Conference in Melbourne, Australia, we are posing the question: What are the real benefits of the alt-protein boom?


As the world shifts toward more sustainable food production, the global alt.protein sector is preparing to experience significant growth, creating a wealth of opportunities for both the economy and the environment.

Dreamstime - Plant-based vegan steaks

Source; Dreamstime - Plant-based vegan steaks


Industry experts predict the alternative protein market will grow to a staggering $290 billion by 2035, fueled by rising consumer demand for plant-based, fermentation-based, and cultivated proteins.


This expanding market is expected to generate tens of thousands of new jobs, with countries like the UK alone anticipating over 25,000 new roles in the coming years. "Europe is moving toward agricultural autonomy with a focus on food innovation and alternative methods of producing protein. We expect over 25,000 new jobs in the UK alone, driven by the alt-protein boom," says Noga Golan, Founder of Alt Protein Careers.*


The environmental benefits of this shift are equally impressive. A report by BCG estimates alt. proteins could cut global greenhouse gas emissions by more than 1 gigaton by 2035, helping to decarbonise sectors comparable to the aviation or shipping industries. In fact, in a scenario where alternative proteins capture a 22% market share, up to 2.2 gigatons of carbon dioxide equivalent could be avoided, clearly illustrating the sector’s impact in mitigating climate change.**


Dr Simon Eassom, CEO of Melbourne based think tank Food Frontier says the role alternative proteins can play in addressing these challenges and creating a more sustainable food system is enormous. "We know current global food systems, which rely heavily on animal agriculture, are responsible for between one-quarter and one-third of all global greenhouse gas emissions. Feeding a growing global population, expected to reach 9.7 billion by 2050, and meeting increased demand for high-quality protein will require us to provide a diversified range of protein-rich food in a more sustainable way.”


A critical component of this emerging landscape is cultivated meat, which is expected to revolutionise the food system by reducing the need for conventional livestock farming.


Cultivated meat, produced directly from animal cells, offers the same taste and texture as conventional meat but with a fraction of the environmental footprint. "Cultivated meat will play a crucial role in reducing our environmental footprint while offering the same culinary experience as conventional meat. Companies like Mosa Meat, Upside Foods are leading the charge in cellular agriculture," says Nick Edwards, Director at S&P Global Commodity Insights *** Australia's Magic Valley and New Zealand's OpoBio are leading the charge down under.


As the technology matures and costs decrease, cultivated meat is expected to complement plant-based alternatives in driving the broader protein transformation. In concert with this scenario, the 'old world' animal farming sector is expected to embrace radical 'on and off-farm' diversification.


Some of the key players driving this overall transformation include companies like Beyond Meat, Impossible Foods, and Redefine Meat alongside innovative startups such as BlueNalu, Boldly Foods, Aleph Farms and France's LaVie Foods.


Source: Blue Nalu - Cell Cultured Tuna Fish.


Venture capital has poured into the sector at an unprecedented rate, with over $5 billion invested between 2019 and 2021. Whilst it has slowed, pundits suggest the sector is in a 'consolidation phase' gathering 'second wind' as commercialisation kicks in with 'proof of concept' turning into dollars.


What is perhaps of critical interest is the shift toward alternative proteins offers an essential buffer against the risks posed to traditional meat industries by diseases such as African swine fever and Avian flu. As these outbreaks continue to be all-too-frequent, a proactive approach, such as a voluntary herd reduction strategy, with diversification off-sets, could mitigate the risk of widespread food supply disruptions. Such actions would also align with growing environmental goals by reducing the resource-intensive nature of animal agriculture.


So as this snapshot indicates, the alternative protein sector is not only positioned to deliver significant economic value and job creation but also offers a viable path to reducing our environmental footprint and addressing global food security concerns.


Cultivated meat, along with other alt-protein technologies, represents an exciting and necessary evolution for the future of food.


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